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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/07\/19\/tencent-insurance-web3-animoca-brands\/<\/a><\/br> Animoca Brands, the Hong Kong-based gaming company and the investor behind web3 big names like The Sandbox, Sky Mavis, Dapper Labs and OpenSea, just got a talent boost.<\/p>\n Alan Lau, former CEO and chairman at Tencent\u2019s in-house insurance agency WeSure<\/a>, has joined Animoca as its chief business officer, Lau\u2019s LinkedIn page shows<\/a>.<\/p>\n Animoca, which got its start as a mobile games developer in 2014, has in recent years become one of the world\u2019s most active web3 investors with a growing portfolio of over 300 companies \u2014 both centralized and decentralized<\/a>. As the chief business officer, Lau will oversee Animoca\u2019s portfolio companies, lead mergers and acquisitions, and work on business development, his profile says.<\/p>\n Internet insurance and the web3 world might seem to have little overlap, but Lau\u2019s involvement in art \u2014 sitting on the board of Asia-based projects for Tate and Guggenheim Museum \u2014 could serve Animoca well as the art industry has been keen to embrace the metaverse and NFTs. Lau\u2019s experience of running a consumer internet platform with over 100 million registered users at WeSure could also lend itself to managing a large portfolio of startups.<\/p>\n \u201cWe are excited to have Alan join the Animoca Brands family at this pivotal moment of the company\u2019s development,\u201d Evan Auyang, president of Animoca Brands, said in a statement.<\/p>\n \u201cAlan brings to us both the depth and breadth of business experience from Tencent WeSure, where he built the business from the ground up, as well as nearly two decades of experience at McKinsey. He provides valuable perspective and expertise as we look to further synergize our portfolio of over 340 investments.\u201d<\/p>\n Lau isn\u2019t the only Tencent veteran that has made the switch to web3. Benny Ho<\/a>, who was previously inking investment deals for Tencent\u2019s gaming unit, is now a head of business development at Animoca.<\/p>\n With over 700 employees worldwide, Animoca Brands jumped past $5 billion in valuation after its $360 million funding round that was announced in January<\/a>. As of April, its portfolio was valued at over $1.5 billion across 340 investments, according to its financial report<\/a>, and its balance sheet had $98 million in cash and $211 million worth of digital assets holdings at the time.<\/p>\n
\nFormer Tencent insurance boss joins web3 powerhouse Animoca Brands<\/br>
\n2023-01-20 22:27:33<\/br><\/p>\n